Daily briefing: Morning Report, December 26, 2014
Coca-Cola Company, one of the world's leading beverage manufacturers, has announced plans to cut an additional $3 billion from its annual budget in 2021, following a similar move in 2014. The latest budget cut will include further reductions in executive perks and approximately 2,000 job reductions.
In 2014, Coke's budget cut was focused on reducing costs and streamlining operations. The company aims to maintain this focus in its latest cost-cutting measures.
Meanwhile, in the aviation industry, airlines are attempting to improve the traveler experience in coach class to attract more passengers. Some airlines are reintroducing small amenities like hot towels to enhance comfort, while others are focusing on providing a more comfortable seating experience.
Interestingly, some business travelers are choosing coach class over business class, prioritizing nicer hotel rooms. These travelers prefer to allocate their shrinking travel budgets on better accommodations.
In the tech world, Blackberry is introducing a new self-destructing phone as a potential rescue measure. The self-destructing phone is a new product launch in the smartphone market, and Blackberry hopes it will help the company regain its lost market share. However, there is no evidence in the search results indicating any airlines considered adopting a new BlackBerry smartphone version in 2014.
Despite the challenges faced by both Coke and the aviation industry, it's clear that companies are adapting to changing circumstances and consumer preferences. As budgets tighten and priorities shift, it will be interesting to see how these trends develop in the coming years.
